Latest News on Dividend and Preferred Stocks

Utility Giant Entergy Corp. Sells High Quality Baby Bonds

Entergy Corp (NYSE:ETR), one the country’s largest electric power production utilities has come to market in a major way in the last week with “baby bond” offerings from 2 of their subsidiaries. Entergy Arkansas Inc. has sold a $25/bond issue at a coupon that reflects the quality of the offering as well as the rock […]

Entergy Arkansas, Inc. First Mortgage Bonds, 4.875% Series due 9/1/2066 (ticker:EAI)

Date Issued   8/10/2016 Shares Issued  16,400,000   Overallotment Shares  None S&P Rating   A   Moodys Rating   A2 Security Ticker Symbol   EAI Market Traded ON   NYSE Interest Payment Paid on the 1st of March, June, September and December beginning on 12/1/2016 Quarterly Interest  .305   Annual Interest   1.219 Securities may be redeemed, at the issuers option, as early as 09/01/2021 for a […]

Entergy Louisiana LLC 4.875% Series Collateral Trust Mortgage Bonds due 9/1/2066 (ticker-ELC)

Date Issued   8/10/2016 Shares Issued  10,800,000   Overallotment Shares  None S&P Rating   A   Moodys Rating   A2 Security Ticker Symbol   ELC Market Traded ON   NYSE Interest Payment Paid on the 1st of March, June, September and December beginning on 12/1/2016 Quarterly Interest  .305   Annual Interest   1.219 Securities may be redeemed, at the issuers option, as early as 09/01/2021 for a […]

Entergy Subsidiaries Move Into the Markets in a Massive Way

Various divisions of energy giant Entergy (NYSE:ETR) moved into the markets in a major way in the last week floating 100’s of millions of dollars worth of new low coupon “baby bonds” in a giant refinancing move. At this moment (Wednesday evening) here is the run down as filed with the SEC. Entergy Arkansas has […]

Qwest Sells a Refinancing “Baby Bond”

Qwest Corporation, a division of CenturyLink (NYSE:CTL), has sold a new note issue with a 6.5% coupon.  This large issue of nearly 39.1 million shares (proceeds of near $1 billion which includes the overallotment allocation) will be used to refund the 7.50% notes (NYSE:CTW) and most of the 7.375% notes (NYSE:CTQ) that Qwest currently has […]

Caution and Common Sense Needed on New Gladstone Land Preferred

All day long we were trying to purchase shares of the new Gladstone Land term preferred (OTC Ticker:GLLTP) without luck.  The issue traded in the $25 to $25.50/share range during the day before closing with a low price of $24.50/share.  Data shows just 27,000 shares trading, but one doesn’t know when shares are sold to […]

We Are a Buyer of This New Term Preferred Stock

OTC TICKER HAS BEEN ANNOUNCED—GLLTP Gladstone Land Corp. (NASDAQ:LAND) has sold a new preferred offering with a relatively decent coupon of 6.375%.  Additionally this issue will pay monthly dividends and a “bird in hand is worth 2 in the bush”. LAND is a REIT which owns agricultural land throughout the U.S. which it leases to […]

Industrial REIT Rexford Industrial Sells a Lousy Preferred

Industrial REIT Rexford Industrial (NYSE:REXR) has sold a new preferred stock with a lousy coupon of 5.875%.  This issue is now trading on the OTC Grey market under the ticker RXFFP and is trading in the area of  $25.37.  Honestly this is a ridiculous price for a very mediocre REIT. With the hunt for yield […]

Closed End Fund Bancroft Fund Ltd. Sells Top Quality Preferred

Closed End Fund (CEF) Bancroft Fund Ltd (NYSE:BCV) has sold a high quality preferred stock with a 5.375% coupon.  While the coupon seems very modest the reward equals the risk as this is a low risk issue. Long term readers will recall that closed end funds are limited in their use of leverage.  In the […]

Landmark Infrastructure Partners LP Sells a Tasty Preferred

While we continue to be leery of buying most master limited partnership units (master limited partnership shares are called “units”) we are not averse to buying preferred units if the reward is adequate. Landmark Infrastructure Partners LP (NASDAQ:LMRK) has sold new preferred units with a coupon of 7.90% and in these days of low coupon […]

Banker Capital One Financial Sells a Quality Preferred

Banker Capital One Financial Corporation (NYSE:COF) has sold a new preferred stock offering.  Moodys rates this issue as investment grade, while Standard and Poor’s has it a notch below investment grade. As you might expect with a quality issue the coupon is meager–just 5.20%.  The issue has now begun trading on the OTC Grey Market […]

Quiet Markets For Income Investors

Day after day income investors search for reasonable sources of income as preferred stock issues and baby bonds with 6, 7 and 8% coupons are redeemed while new issues are being sold with coupons of 4, 5 and 6%.  Even the junky companies (in particular some REITs) are issuing perpetual preferreds at rates that they […]